The Pakistan Stock Exchange (PSX) came under renewed selling pressure on Wednesday, with the benchmark KSE-100 Index falling more than 1,300 points as investors remained cautious amid escalating Middle East tensions.
According to PSX data, the KSE-100 opened on a bearish note and dropped more than 600 points during the early minutes of trading. Selling intensified after 3 p.m., pushing the index to an intraday low of 167,849.70, a decline of 1,542 points.
Selling was recorded across major sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, and oil marketing companies.
At the close, the KSE-100 Index settled at 168,021.80 points, down 1,370.52 points or 0.81% from the previous session.
The decline came a day after the market posted a strong recovery following the State Bank of Pakistan’s decision to keep the policy rate unchanged at 11.50%. The KSE-100 had gained 1,421.67 points on Tuesday to close at 169,392.32.
Global markets were mixed on Wednesday as investors awaited the US Federal Reserve’s interest-rate decision. Global bond yields and oil prices also remained key factors influencing investor sentiment.
Meanwhile, oil prices edged lower during the session after reports that Saudi Arabia was offering additional crude cargoes through Oman eased some concerns about potential disruptions to Middle East supplies.
Brent crude futures fell 59 cents, or 0.54%, to $108.16 per barrel, while US West Texas Intermediate futures declined $1.20, or 1.13%, to $104.63 per barrel.
